REG - Latham(James) PLC - Trading Statement

James LathamAnnouncement

29/03/2022 07:00

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RNS Number : 2972G  Latham(James) PLC  29 March 2022

James Latham PLC

 

("James Latham" or the "Company")

 

 

Trading Statement

 

The Board of James Latham provides the following trading statement ahead of
the Company's results for the year ended 31 March 2022.

 

Revenue for the year to 31 March 2022 remains strong and is anticipated to
exceed £370m compared with £250m for last year. Cost prices have continued
to rise throughout the year which is a major driver of the increase in
revenues, and there are no signs currently of price weaknesses. Volume growth
has slowed and gross margins percentages are now returning to more normal
levels, as expected. Supply chain issues have continued, with shipment delays
and congestion at the ports, and this has been exacerbated by the events in
Ukraine and its effect on Russian ships and ports. We are still maintaining
higher than normal inventory levels and using our extensive network of
suppliers to ensure that we continue to provide a high level of service and
product availability for our customers.

 

Overheads are facing inflationary pressures especially with increases in fuel
costs causing an increase in vehicle costs per tonne delivered. We continue to
monitor and control our overheads closely. The Company's balance sheet and
cash balances remain strong.

 

The Board plans to report the Company's preliminary results for the year ended
31 March 2022 on 29 June 2022.

 

This announcement contains inside information for the purposes of Article 7 of
the UK version of Regulation (EU) No 596/2014 which is part of UK law by
virtue of the European Union (Withdrawal) Act 2018, as amended.

 

 

For further information please visit www.lathamtimber.co.uk
(http://www.lathamtimber.co.uk/) . or contact:

 

 James Latham plc                                        Tel: 01442 849 100
 Nick Latham, Chairman
 David Dunmow, Finance Director

 SP Angel Corporate Finance LLP                          Tel: 0203 470 0470
 Matthew Johnson / Charlie Bouverat (Corporate Finance)
 Rob Rees (Corporate Broking)

 

 

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